Large Payment Resolves Investor Claims That Bank Misled Them in Several Bond, Preferred Offerings

Citigroup Inc. agreed to pay $730 million to settle claims that it misled investors in four dozen bond and preferred-stock offerings over more than two years, in the second-largest settlement of investor litigation tied to the financial crisis.

The agreement, with plaintiffs including the Arkansas Teacher Retirement Systems and Louisiana Sheriffs' Pension and Relief Fund, is the latest to hit the nation's largest banks at a time of...